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ECONOMICS

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EC 1505
THE GLOBAL ECONOMY
CREDIT POINTS 15

Course Co-ordinator: Dr H Battu

Pre-requisite(s): None.

Co-requisite(s):

Note(s):

What are the causes of the current financial crisis and what can governments across the globe do about it? Why is it that certain countries have experienced rapid growth in incomes over the past century whereas others are stuck in severe poverty? Why do some nations have high rates of inflation and others stable prices or deflation? Why is unemployment low in some countries but very high in others? Why do all countries experience periods of economic recession and depression and how can government reduce the size of the associated fluctuations in incomes and employment?

This module, which looks at the behaviour of the economy as a whole, tries to answer these and other questions. This course introduces students to macroeconomic theory and policy. This will enable students to understand the determinants of the level of national income, the overall growth rate of the economy, unemployment and the rate of inflation as well as the role of government in influencing these variables.

2 one-hour lectures per week and 1 one-hour tutorial every two weeks.

1st Attempt: 1 two-hour examination (70%); continuous assessment (30%) consisting of an essay (18%) and a report (12%).

Resit: 1 two-hour written examination (100%).